Abstract: A fingerprint identification system for a mobile phone and an identification method. The system includes a fingerprint collection module, a spectral chip, a data storage module and an identification module. The fingerprint collection module is arranged under a mobile phone screen. The mobile phone screen provides a light source to illuminate a fingerprint. The spectral chip is configured to modulate an incident spectrum, and convert an optical signal into an electrical signal to be amplified and converted into a digital signal or code for output. A finger reflection spectral data and a fingerprint image data are collected by inversion of an optical signal intensity information and a pixel location information. The data storage module is configured to store reflection spectral data and fingerprint image data of a real finger input in advance. The identification module is configured to compare the collected data with the pre-stored data.